As a final reminder, on October 1, 2019, United of Omaha will be modifying our GUL and GUL Express products due to the implementation of the 2017 Commissioners Standard Ordinary (CSO) Tables.
Product Impacts
- Guaranteed Universal Life (GUL)
- The product will be updated with the new CSO tables, resulting in a mix of increases and decreases in premiums.
- The Disability Continuation of Planned Premium Rider will be introduced on GUL in California at the same time.
- Guaranteed Universal Life Express (GUL Express)
- The product will be updated with the new CSO tables, which has resulted in decreases in the lifetime guarantee premiums.
- We will be expanding the maximum issue age for non-tobacco to age 70 (tobacco will remain at age 65)
- We will be changing the maximum face amounts to match Term Life Express. The maximum face amounts will now be:
- 18-50: $300,000
- 51-60: $250,000
- 61+: $150,000
- The Disability Continuation of Planned Premium Rider will be introduced on GUL Express in California at the same time.
Transition Rules
The new GUL and GUL Express pricing will go into effect October 1, 2019 in all states.
- To get the old pricing, applications must have a signed date prior to October 1, 2019 and the application must be received in the home office by October 16, 2019. Applications received after October 16 will receive the new pricing regardless of app signed date. All policies that use the old pricing must be placed and paid no later than December 31, 2019.
- Applications with a signed date of October 1, 2019 and later will get the new pricing. If the broker/agent wishes to have the new pricing on a pending in-house application that was signed prior to October 1, 2019, they will need to contact Underwriting.
Illustration Software
On October 1, 2019 the WinFlex illustration software will be updated with the new GUL and GUL Express pricing. Please contact your Account Executive if you need a revised illustration for applications submitted prior to October 1, 2019.
If you have questions regarding these upcoming changes to GUL or GUL Express, please contact your Life Sales Director or Account Executive.
Final Reminder: October 1st Updates for 2017 CSO Table Changes
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